Netflix to release Will Smith's new movie

Los Angeles - Netflix is close to securing the rights to Will Smith's new project.

The streaming service is one of many companies interested in Max Landis' Bright, which is set to star Will and Joel Edgerton, and Variety reports that it is edging ahead of studios Sony and Warner Bros in the bidding war.

David Ayer is set to direct the top-secret project.

This is a significant move for Netflix, who have been attracting top-tier movie talent recently.

Last year Brad Pitt signed a deal with Netflix to produce and star in online comedy War Machine.

The online TV and film service joined forces with the 'World War Z' star for what was then the most preeminent contract for any streaming outlet due to the involvement of such a high-profile Hollywood star.

The deal means Netflix has agreed to fund and distribute the film and the joint business venture is said to be worth $30m and is the combined efforts of his Plan B production house and the service.

A senior box office analyst said: "No big screen star is going to completely give up the big screen, but it's just a natural evolution of how content is delivered and how the audience consumes it. The ability for Netflix to reach into so many homes and be on so many devices has become very appealing to a star or producer."

Cary Fukunaga's Beasts of No Nation starring Idris Elba was an awards season success for Netflix, while Angelina Jolie is adapting Cambodian author Loung Ung's memoir First They Killed My Father: A Daughter of Cambodia Remembers for the streaming service.